RajStockWatch

🌟🌟LIST OF GOOD SME IPOs LISTED FROM 01 Jan 2026 (Sheet 1, Sheet 2 & Sheet 3) 🗒️Data Covers: IPO Price, IPO P/E, List Price, Current Price, Current P/E, % Gain with respect to IPO Price. For most recent stocks, Capex Completion target time is given in Comments. 🩷LIKE, SAVE in 🔖BookMarks for Detailed Study Some stocks start discounting future earnings , very early, considering capex. But not all. If price is still at lower valuation, BUT major capex is ongoing, it's an opportunity to track and enter, when price action starts. 👍 Suggest not to take Promoter's every word in Investor presentations, as Ved Vakya. Lot of fluff and inaccurate stuff will be there in their talks. 👎 Please go through recent NSE order announcements / capex status / business updates too before investing.👍 Do note , even some of these stocks could fail, 👎since we are yet to see First Post-Listing Financials. And there can be cooked up 👎revenue and extra high margins which could disappear with H1 result. So one has to track results closely. No blind bets. SHEET 1 ACME INDIA INDUSTRIES TNA SOLUTIONS EVERESTIMS TECHNOLOGIES SJP ULTRASONICS VANS ELECTROENGINEERING ACME UNIVERSAL SAFEZONE 9 ROOPA SCREEN POOJA LOGISTICS FX MULTITECH ROBOKIDZ EDUVENTURES SPECTRAA TECHNOLOGY SOLUTIONS RAKSAN TRANSFORMERS MAHARAJA & SPEEDEX INDIA AMTECH ESTERS QUALIANCE INTERNATIONAL ASHUTOSH FIBRE 🩷LIKE, SAVE in 🔖BookMarks for Detailed Study Sheet 2 and Sheet 3 in Thread below 1/3

👎ANAWIL WIRE. The sky high margin was simply not sustainable as discussed earlier. It has skidded down to 16% in H1 from 45% to 50% reported in pre ipo period. Valuation was based on the huge margin. That will be impacted.

👍PARMESHWAR METAL FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 270 was at 13 p/e. Now 8.8x 👍 Topline growth is good like SUNLITE. Overall, in copper recycling, top players are doing well 👍 H1 FY27 Vs.H2 FY26 REV:Rs. 1427Cr Rs. Vs Rs. 1130Cr 👍 PAT:Rs.23.5 Cr Vs Rs. 23.5Cr 🫱(margin bit lower) (May Compare with H1FY26 Rev=Rs.846Cr & PAT=Rs. 9Cr ) VERY GOOD 👍 TTM Vs FY26 REV:Rs.2557Cr Vs Rs. 1976Cr 👍 PAT: Rs. 47Cr Vs Rs. 32.5Cr 👍 SME IPO was in Jan 2025 at Rs.61

👎JAY BEE LAMINATIONS FY27 H1 RESULTS. H1FY27 RESULTS. Rs.87 was at 10.8p/e. Now 9.7x 👍 When VILAS underperformed, everyone believed JAY BEE will perform well. The Transformer Lamination segment is down the drain. There was so much expectation from this segment. Gone for a toss. Lamination Segment Revenue is down from 219Cr in H1FY26 to 180Cr now. Receivables are crushing at Rs.174Cr 👎 H1 FY27 Vs.H2 FY26 REV:Rs.214.6Cr Rs. Vs Rs. 330Cr 👎 PAT:Rs. 5.6Cr Vs Rs.14.6 Cr 👎 (May Compare with H1FY26 Rev=Rs. 220Cr & PAT=Rs. 3.7Cr ) 👍 TTM Vs FY26 REV:Rs.544.6Cr Vs Rs.550 Cr 👍 PAT: Rs. 20.2Cr Vs Rs. 18.3Cr 👍 SME IPO was in SEPT 2024 at Rs.146

👍E FACTOR EXPERIENCES FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 189 was at 12.5p/e. Now 11 x 👍 This is a proven case of H2 heavy business . Overall OKAY👍 H1 FY27 Vs.H2 FY26 REV:Rs. 72.5Cr Rs. Vs Rs. 140Cr 👎 PAT:Rs. 7.3Cr Vs Rs. 15Cr👎 (May Compare with H1FY26 Rev=Rs. 53Cr & PAT=Rs. 5Cr ) GOOD 👍 TTM Vs FY26 REV:Rs.212.5Cr Vs Rs. 192Cr 👍 PAT: Rs. 22.5Cr Vs Rs. 20Cr 👍 SME IPO was in OCT 2023 at Rs.75

👎BASILIC FLY STUDIO FY27 H1 RESULTS. H1FY27 RESULTS. Rs.172 was at 8 p/e. Now 11x 👎 Margin flew out of the window. 👎 AI eating margin? H1 FY27 Vs.H2 FY26 REV:Rs. 212Cr Rs. Vs Rs. 227Cr👎 PAT:Rs. 12Cr Vs Rs. 24.8Cr 👎👎 Margin collapse? (May Compare with H1FY26 Rev=Rs. 191Cr & PAT=Rs. 24.9Cr ) Margin collapsed w r to this also👎👎 TTM Vs FY26 REV:Rs.439Cr Vs Rs. 418Cr 👍 PAT: Rs. 36.8Cr Vs Rs. 49.7Cr 👎👎 SME IPO was in Sept 2023 at Rs.97

👍ANB METALCAST FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 414 was at 23p/e. Now 20x 👍 104Cr receivables. Negative 19Cr CF. M akes Aluminium extruded profiles which are used by others to make window frames. The business is considered far more valuable than most others segments by the market! IPO funded expansion is supposed to be completed in Q3 FY27. H1 FY27 Vs.H2 FY26 REV:Rs. 157Cr Rs. Vs Rs.137 Cr👍 PAT:Rs. 11.5 Cr Vs Rs. 13Cr 👎 margin down (May Compare with H1FY26 Rev=Rs. 88Cr & PAT=Rs. 8Cr ) GOOD 👍 TTM Vs FY26 REV:Rs. 294Cr Vs Rs. 225Cr 👍 PAT: Rs. 24.5Cr Vs Rs. 21Cr 👍 SME IPO was in AUG 2025 at Rs.156

👍VISION INFRA FY27 H1 RESULTS. H1FY27 RESULTS. Rs.349 was at 12.6 p/e. Now 9.5 x👍 H1 FY27 Vs.H2 FY26 REV:Rs. 399Cr Rs. Vs Rs. 334Cr👍 PAT:Rs. 43Cr Vs Rs. 44Cr 👎 (May Compare with H1FY26 Rev=Rs.288 Cr & PAT=Rs. 22Cr ) GOOD TTM Vs FY26 REV:Rs.733Cr Vs Rs.622 Cr 👍 PAT: Rs.87 Cr Vs Rs. 66Cr 👍 SME IPO was in SEPT 2024 at Rs.163

VISION INFRA FY27 H1 RESULTS. H1FY27 RESULTS. Rs.349 was at 12.6 p/e. Now 9.5 x H1 FY27 Vs.H2 FY26 REV:Rs. 399Cr Rs. Vs Rs. 334Cr👍 PAT:Rs. 43Cr Vs Rs. 44Cr🫱 (May Compare with H1FY26 Rev=Rs.288 Cr & PAT=Rs. 22Cr ) GOOD TTM Vs FY26 REV:Rs.733Cr Vs Rs.622 Cr👍 PAT: Rs.87 Cr Vs Rs. 66Cr🤞 SME IPO was in SEPT 2024 at Rs.163

👎META INFOTECH FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 56.5 was at 9.8 p/e. Now 20x 👎 The financials reported in Fy26 H1, could be either made up or a just a one-off case. H1 FY27 Vs.H2 FY26 REV:Rs. 89.8Cr Rs. Vs Rs. 61Cr 👍 PAT:Rs. 4.9Cr Vs Rs. 0.44Cr 👍 (May Compare with H1FY26 Rev=Rs. 210Cr & PAT=Rs. 10.4Cr ) VERY BAD with respect to this👎 TTM Vs FY26 REV:Rs.151Cr Vs Rs.271Cr 👎 PAT: Rs. 5.34Cr Vs Rs. 11Cr 👎 SME IPO was in July 2025 at Rs.161 Listed at Rs.225.

👍HIGHNESS MICROELECTRONICS FY27 H1 RESULTS. H1FY27 RESULTS. Rs.312 was at 39p/e. Now 28x 👍 Makes flat panel displays like OSEL devices. Very small base. Hence there is good chance for growth H1 FY27 Vs.H2 FY26 REV:Rs. 12.4Cr Rs. Vs Rs.9.5 Cr 👍 PAT:Rs. 2.7Cr Vs Rs. 3.2Cr 👎 (May Compare with H1FY26 Rev=Rs. 7.5Cr & PAT=Rs. 0.9Cr ) GOOD👍 TTM Vs FY26 REV:Rs.21.9Cr Vs Rs. 17Cr👍 PAT: Rs. 5.4Cr Vs Rs. 4.1Cr👍 SME IPO was in April 2026 at Rs.120

🚨SATTRIX INFORMATION SECURITY FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 316 was at 45 p/e. Now 48 x 👎 Unusual margin collapse with excessive costs. H1 FY27 Vs.H2 FY26 REV:Rs. 41.9 Cr Rs. Vs Rs.33 Cr 👍 PAT:Rs. 1.4Cr Vs Rs. 6Cr 🔴 How? (May Compare with H1FY26 Rev=Rs.28.6 Cr & PAT=Rs.2 Cr ) Topline grew.👍 TTM Vs FY26 REV:Rs.74.9Cr Vs Rs. 62Cr 👍 PAT: Rs. 7.4Cr Vs Rs. 8Cr 👎 SME IPO was in June 2024 at Rs.121

🚨KRN Heat Exchanger. VERTIV is down 13% along with compute and semi stocks. Watch out for KRN on Friday.

🚨SATTRIX? What happened actually? Another margin collapse after KRATIKAL. Better to watch and take care on Friday Morning. Is this an accounting error, perhaps? Materials purchased fully expensed instead of moving substantial part of it to inventory?

🚨KRATIKAL - There is margin collapse . Watch & better take care in the morning. Rs.160 closing on Thursday This is recent IPO . July 2026 at Rs.135.

🍏UTSSAV CZ GOLD FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 852 was at 36 p/e. Now 30.4 x👍 Great work considering the base! 👍 H1 FY27 Vs.H2 FY26 REV:Rs. 850Cr Rs. Vs Rs. 681Cr 👍 PAT:Rs. 40Cr Vs Rs.30 Cr 👍 (May Compare with H1FY26 Rev=Rs. 476Cr & PAT=Rs. 29Cr ) V GOOD 👍 TTM Vs FY26 REV:Rs.1531Cr Vs Rs. 1158Cr 👍 PAT: Rs.70 Cr Vs Rs. 59Cr 👍 SME IPO was in AUG 2024 at Rs.110

👍VANS ELECTROENGINEERING FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 455 was at 92p/e. Now 53 x👍 It is like an early stage startup. Market interest due to Mr. Nitin Jain who is Concord Control Promoter 25KV CBs and Idolators for Railways . May come up with new products. Scope for growth looks good. H1 FY27 Vs.H2 FY26 REV:Rs. 23Cr Rs. Vs Rs. 17.4Cr 👍 PAT:Rs. 5.3Cr Vs Rs. 4Cr 👍 (May Compare with H1FY26 Rev=Rs. 5.8Cr & PAT=Rs. 1.3Cr ) GOOD👍 TTM Vs FY26 REV:Rs.40.4Cr Vs Rs. 23.2Cr 👍 PAT: Rs. 9.3Cr Vs Rs. 5.4Cr 👍 SME IPO was in OCT 2026 at Rs.118

👍CLASSIC ELECTRODES FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 48 was at 7p/e. Now 6.4 x🫱 Some recovery after the flat H2FY26👍 Still not enough H1 FY27 Vs.H2 FY26 REV:Rs. 145Cr Rs. Vs Rs. 121Cr👍 PAT:Rs. 7.3Cr Vs Rs. 6.2Cr👍 (May Compare with H1FY26 Rev=Rs. 123Cr & PAT=Rs. 6.5Cr ) GOOD👍 TTM Vs FY26 REV:Rs.266Cr Vs Rs. 244Cr👍 PAT: Rs. 13.5Cr Vs Rs. 12.6Cr👍 SME IPO was in AUG 2025 at Rs.87

🍏AKIKO GLOBAL FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 438 was at 31p/e. Now 19x 👍👍 Consistent growth.👍 H1 FY27 Vs.H2 FY26 REV:Rs. 152Cr Rs. Vs Rs. 108Cr 👍 PAT:Rs. 15Cr Vs Rs. 9.8Cr 👍👍 (May Compare with H1FY26 Rev=Rs. 64Cr & PAT=Rs. 5.5Cr ) VERY GOOD 👍👍 TTM Vs FY26 REV:Rs.260Cr Vs Rs.173 Cr 👍 PAT: Rs. 24.8Cr Vs Rs. 15.3Cr 👍 SME IPO was in July 2024 at Rs.77

🫱POSITRON ENERGY FY27 H1 RESULTS. H1FY27 RESULTS. Rs. 222 was at 8.5p/e. Now 5.5x 👍 Strong recovery has still not happened. Unless and until there is longterm (at least 6 months) delivery contract, don't see good re-rating happening. Big let down. It tied up source but could not find takers even when gas crunch happened H1 FY27 Vs.H2 FY26 REV:Rs. 308Cr Rs. Vs Rs. 287Cr 👍 PAT:Rs. 15.7Cr Vs Rs. 15Cr 🫱 (May Compare with H1FY26 Rev=Rs.160 Cr & PAT=Rs. 5Cr ) This was disaster quarter TTM Vs FY26 REV:Rs.595Cr Vs Rs. 448Cr 👍 PAT: Rs. 30.7Cr Vs Rs. 20Cr 👍 SME IPO was in AUG 2024 at Rs.250